Couldn’t You Understand Yet the Technological Globalization Is What?

 

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Introduction.

Technological globalization refers to the integration and widespread dissemination of technology across borders and cultures, resulting in the interconnectedness of economies, societies, and individuals on a global scale. The rapid advancements in information and communication technologies (ICTs) have played a pivotal role in fostering this phenomenon, breaking down traditional barriers and enabling the seamless flow of information, goods, and services worldwide

 

Technological globalization.

A global knowledge economy is the result of technological globalization, which is the diffusion of innovation and technology across national boundaries (UNCTAD, 2005). It is fuelled by developments in communication and technology, as well as the expansion of international enterprises and academic institutions. Globalization of technology has increased production and efficiency while also opening up new avenues for creativity and entrepreneurship. But it has also resulted in labour displacement and a concentration of wealth in some areas (Stiglitz, 2006).

Technological globalization has its roots in the development of the internet and ICTs. As technological advancements accelerated over the decades, the world witnessed a remarkable shift from local economies to a globalized marketplace. Internet connectivity, mobile devices, and social media platforms have bridged distances, making communication and collaboration seamless across borders (Friedman, 2007)

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Advantages	Dis-advantages
Enhanced Communication and Connectivity: Technological globalization has revolutionized communication by breaking down geographical barriers. People from different parts of the world can now connect instantly through video calls, social media, and messaging platforms, facilitating seamless collaboration and knowledge sharing	Digital Divide and Inequality: Not everyone has equal access to technology and the internet, leading to a digital divide between developed and developing regions. This gap exacerbates existing social and economic inequalities
Global Market Access: Businesses, especially small and medium-sized enterprises (SMEs), can now access global markets through e-commerce platforms, allowing them to reach a broader customer base and expand their sales beyond their local regions	Data Privacy and Cybersecurity Concerns: The proliferation of technology has raised serious concerns about data privacy and cybersecurity. With vast amounts of personal and sensitive information being shared online, individuals and organizations are vulnerable to data breaches and cyberattacks
Knowledge Sharing and Innovation: The internet has become a vast repository of knowledge, enabling researchers, scientists, and academics from around the globe to collaborate and share information. This has accelerated innovation and scientific advancements in various fields	Job Displacement and Unemployment: The automation and digitalization of industries have led to job displacement and the potential for unemployment, especially in sectors where technology can replace human labour

 

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Conclusion

Technological globalization is an unstoppable force that continues to reshape the world in the digital age. Its impact spans across economies, cultures, and societies, transforming the way we interact and conduct business. While it presents immense opportunities for progress and connectivity, addressing its challenges is vital to ensure an inclusive and equitable globalized future

References.

Stiglitz, J. E. (2006). Making globalization work. WW Norton & Company. [Online] Available at: https://cmc.marmot.org/Record/.b26923038  [Accessed on 06th August 2023]

Friedman, M. (2007). The Social Responsibility of a Business Is to Increase Its Profits. In Corporate Ethics and Corporate Governance (pp. 173-178). Berlin Heidelberg: Springer. [Online] Available at: https://doi.org/10.1007/978-3-540-70818-6_14  [Accessed on 06th August 2023]

UNCTAD. (2005). World investment report 2005: Transnational corporations and the internationalization of R&D. United Nations. [Online] Available at: https://unctad.org/publication/world-investment-report-2005  [Accessed on 06th August 2023]

Image: 01 Available at: https://littleusgoneglobal.wordpress.com/2015/02/17/globalization-technology-and-media/  [Accessed on 06th August 2023]

 

Image: 02 Available at: https://www.emalpha.com/is-globalization-under-threat-and-what-it-means-for-ems/  [Accessed on 06th August 2023]

Image: 03 Available at: https://helpfulprofessor.com/technological-globalization-exmaples-pros-cons/ [Accessed on 06th August 2023]